fbpx

E04: Build a Business, Leave a Legacy

You are here: Home \ TRANSCEND the Podcast \ E04: Build a Business, Leave a Legacy

Think about what is the vision, what is the legacy that you want to leave for them? It doesn't have to be a million dollars. It would be great if it was. But even if you just leave them $50,000, that's a big help for people, right? Nothing is too small. But if you don't start planning now, then it's going to be really hard to just find the money when you get there later.

- Asha Wilkerson, Esq.

Episode Summary:

To leave a legacy for future generations, we have to make sure that our businesses are financially sound and financially stable. We can do things right now in our business that will allow us to change the flow of money so we can pass wealth on to our children. In this episode, I share with you strategies to use your business to leave a legacy.

What You’ll Learn On This Episode:

  • [02:07] Statistics on who receives an inheritance
  • [03:12] Implementing a retirement plan
  • [05:41] Setting up to sell your business
  • [06:45] About tax-deductible business expenses
  • [07:14] Hiring your children as employees
  • [08:03] Having complete control and keeping money in your pocket 
  • [09:41] Creating a plan with a CPA or financial planner
  • [10:57] The three pillars for building and leaving a legacy
 

Resources Mentioned:

Connect With Us: 

 

Subscribe & Review TRANSCEND the Podcast

Thanks for tuning in to this week’s episode of TRANSCEND the Podcast!

If our weekly episodes have helped you on your journey to build a sustainable business, please head over to Apple Podcasts and SUBSCRIBE to the show. We’d also love it if you would leave us a 5-star rating and review.

Your reviews and feedback will not only help us continue to deliver great, helpful content, but it will also help us reach even more entrepreneurs just like you!

About author:
Asha Wilkerson is the founder of The Wilkerson Law Office, P.C. Ms. Wilkerson provides skilled advice and counsel to for-profit, non-profit, and faith-based organizations in the areas of business and employment law. Her mission is to preserve the longevity of your business by ensuring that every aspect of your organization is legally sound and operating in compliance with state and federal law.

Leave a Reply